Profit First Success Story
“We have been using Profit First in our business for nearly 2 years and by splitting out all of the money to different accounts, we know exactly what the money is for. I love that every time the BAS is due, I always have enough money in the tax account. If I don’t have enough money in the expenses account to pay bills, I jump on the phone and make a few calls to clients to bring in the money quicker, and then I have enough to pay the bills, and it tops up the other accounts too.
I love that I can see our profit account grow, and we can use that money to reduce debt or swap out vehicles that need replacing. We thought it would be a struggle to run our small business, but using this system it isn’t a struggle at all. We have time off regularly, and with our team beside us, we know that our business runs smoothly when we are out camping or on the boat.
Profit First is such a great way to manage your money that I introduced it to my sister-in-law’s business and they are using it, too.”
Mel Lucas - Northwest Air Solutions
ELEVATION TRAINING - Sneak Peek
Profit First 101
Jodi Porteous: Profit First Professional Award of the Year
Jodi Porteous is an award winning Profit First Professional - who is super passionate about using the Profit First system for managing money - which is putting aside money in buckets to help determine what the money is for, so that you can comfortably cover all of the business expenses, taxes plus pay yourself.
Bank Accounts setup
Each Bank Account has it's own purpose & rules.
Find out what they all mean, when you set aside money for Profit, Tax, Operating Expenses and Owners Pay to make sure you have enough money to go around.
Core learnings from the Profit First Book
Download the first 2 chapters to get started on your Profit First journey.
Read why Mike Michalowicz founded the system and how it can help your business.
The Profit First Formula
Normally we look at your Profit and Loss Statement to see what your profit is.
Income is at the top, then the Expenses, and what's last is the Profit.
Profit First changes this.
Sales - Expenses = Profit
The Profit First formula is:
Sales - Profit = Expenses
When we focus on our Profits, they actually happen. And when we only use what's left to run our business, we can get just as much done with less expenses.
How can Northwest Accountancy help you with Profit First?
For business owners who want to instantly increase profitability, smash down debt and enjoy financial freedom on a level that you never have before, you’ve come to the right place.
There are two options to work with us to get the Profit First system working in your business.
Option 1 for the people who love to do it themselves - access the online course to learn, implement and make the changes you need to do, to get started.
Option 2 for those who need assistance with working out how the percentages work and to move towards the ideal percentages, with our Rollout Report. Click here to make your first booking to see how we can help.
Jodi Porteous is a Certified Profit First Master and here to support you whichever option you choose.
JOIN ELEVATION TRAINING TO STEP INTO PROFIT FIRST
Elevation Training Membership
Jump on in and take your business to new heights!The Member Community is for you to learn live - with weekly calls for both training and Q&A, plus a forum to ask your questions instead of waiting for your accountant. Our training library has hours of support, with fact sheets, handouts and information for you to make the right decision on what to do, or show you how to input certain transactions into Xero or MYOB.
$297 per month (inc GST)
Elevation Training Annual Membership (1 year)
This annual membership will set your business up for a whole year! Get access for up to 48 meetups throughout the year, plus the training library, for a saving of just $166 per month. Annual members also get a Traffic Light Report (conditions apply) and first dibs on the group calls, where there is more than one member attending live.